Why Lululemon Athletica Stock Climbed 35% in the First Half of 2020
Shares of lululemon athletica (NASDAQ: LULU) gained 34.7% through the first six months of the year, according to data provided by S&P Global Market Intelligence. Lululemon entered the year with revenue up 21% and earnings per share up 28% in fiscal 2019.
Store closures around COVID-19 initially sent the stock down in March, but investors anticipated Lululemon would be fine, especially given the investments in the e-commerce business, which made up nearly a third of its sales last year. The stock started to rebound in April, and a strong fiscal first-quarter earnings report showed incredible strength in the direct-to-consumer business, validating investors' optimism.
Image source: Getty Images.
Source Fool.com
